Tag Archives: pricing

Costing of Vendors


SIMMS Inventory Management software provides a dynamic feature for controlling the numerous aspects of the process of Vendor Costing. Businesses often receive the same items from various vendors based upon their availability and best costs. With SIMMS, each item can be set with particular aliases (vendor-specific names or numbers) and separate costs for each vendor; this enables the user to choose at any time the vendor he/she wants following quick phone calls to the various vendors to ascertain if the item is in stock.

Users can combine multiple items needed from one particular vendor onto one particular purchase order, thus providing the fluidity of purchasing most companies require. The aliases allow for the accurate selection of items with their vendor-specific details, assuring that the items you need are clearly listed for your suppliers. Users can easily access references to the vendors used and edits needed can be performed quickly and easily.

As costs change and/or items pass from usage to be replaced by different or newer pieces, old costs and items can be amended or replaced smoothly, and lists of the new items can be produced in various report forms so your sales department can keep up with the pieces your company now offers. When combined with the seamless link between SIMMS’ inventory information and industry-standard accounting features, the addition or removal of stock pieces within the system give you count control and accurate financial information so you know where the bottom line is at all times. SIMMS’ Vendor Costing feature is just one more tool that will help you keep ahead of your competition. Visit www.simmssoftware.com or email sales@kcsi.ca today.

Landed Costing

SIMMS Inventory Management software contains the landed costing features required to make this important process easy. All cost elements for purchased items are identified, while concurrently the progress of orders and their shipments are tracked in real-time. Both lot and serial numbers allow users to track stock in the system and allow their easy assignment to sales projects or orders, while building a shipment and sales history. Warehouse costs can be updated automatically, allowing smooth and simple posting of all landed cost prices. In addition, several orders can be combined into single shipments, saving you time and money on orders made through your decided vendors.

Other available features include the ablity to use FIFO (First-In, First-Out) allocation of goods to track your costs. Generally, items are “pre-costed” before the shipment arrives, and their separate costs are allotted based on several criteria such as weights, value, quantities and/or volume, depending on your needs. When combined with SIMMS’ General Ledger module, your actual expenses and revenue can be pinpointed, allowing your best decisions to be made quickly and soundly, down to the level of separate bills of costs for a single item.

To see more on the SIMMS’ Landed Costing features, read more by clicking here, or gain access to a video illustrating the features here.

Global Changes

SIMMS Inventory Management software permits users to quickly and easily implement pricing adjustments on a system-wide scale using five particular methods. Often administrators in inventory and accounting departments do not have the time to alter items’ prices one-at-a-time, and when their desired method of alteration is based upon a commonly-established system, SIMMS makes this seemingly daunting and time-consuming task as simple as a few clicks of the mouse.

The methods for global changes in SIMMS are as follows:
1) Dollar Markup – this method adds a specific dollar amount to the existing sales prices of the items.

2) Percent Markup – this method adds a specific percentage to the existing sales prices of the items.

3) Dollar Discount – this method subtracts a specific dollar amount from the existing sales prices of the items.

4) Percent Discount – this method subtracts a specific percentage from the existing sales prices of the items.

5) Percent Markup Pricing – this method increases the sales price for the items by adding a specific percentage onto the purchase cost of each item.

If users have one of the above methods in mind, a single entry on a single screen and a single mouse click will apply the change to every item in stock. This option is one of many streamlined features of SIMMS Inventory Management software that reduces usage time while increasing the business’ bottom line.